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DJIA : Is it going uo to 8622 ???

  1. qindex

    1,248 Posts.

    Melbourne Qindex 04:00 GMT October 19, 2002
    Reading GS 21:46 GMT October 18, 2002
    Melbourne Qindex 01:14 GMT - Do you still expect a pullback on the DJIA now we have a close (just) above 8318 or do you expect to see 8622?

    Melbourne Qindex 01:14 GMT October 18, 2002
    DJIA : The critical point of my monthly cycle charts is located at 7405.55 and the rhythm of monthly cycle is represented by 303.99. Monthly cycle projected chart points are calculated from the following manner :-

    7405.55 + 1 x 303.99 = 7710
    7405.55 + 2 x 303.99 = 8014
    7405.55 + 3 x 303.99 = 8318
    7405.55 + 4 x 303.99 = 8622

    I am expecting a stronger pullback and it is unlikely that DJIA will go to 8622 for the time being. On next Monday my daily cycle chart indicates that the critical point is located at 8349 and the market has a tendency to vibrate around this critical point with a magnitude of +/- 63 points, i.e. 8286 - 8412. A projected supporting point is located at 9098. My 22-day cycle charts also show that a projected resistant level has been established at 8363 - 8399.

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